Bain lines up Bank of America, JPMorgan, Deutsche for School Specialty LBO bank financing

New York, May 31 - School Specialty, Inc. said Bain Capital Partners, LLC has commitment letters from Bank of America, NA, JPMorgan Chase Bank, NA and Deutsche Bank AG for bank facilities to help finance Bain's leveraged buyout of the company.

The Greenville, Wis., education company announced late Tuesday that it had agreed to be acquired by Bain in a $1.5 billion transaction including assumption of non-convertible debt totaling $101 million.

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